Reed Helps New York Farmers: Touts House Repeal of Death Tax
Today the House of Representatives repealed the ‘Death Tax’ in a package of bipartisan reforms designed to protect the American taxpayer.
Congressman Tom Reed made the following statement:
“Death should not be a taxable event. Yet for our Southern Tier and Finger Lakes farmers and families who've lost loved ones, it can mean the end of their livelihood. This is because the death tax can force grieving families to sell off parts of family farm or the business entirely. This is wrong. I care about our grieving families and want them to have a fair shake after a tragic loss. That is why I voted to repeal the unfair and unjust death tax. No family should have to sell off land just because a family member died. The death tax is wrong and is a relic of a big government era that we have moved on from.”
Ashur Terwilliger, Chemung County Farm Bureau president.
“Repealing the estate tax has long been a priority of Farm Bureau. So much of a farmer’s assets are tied up in land, building and equipment. The surviving members of a farm family should not have to sell off important pieces of their business in order to pay a death tax. I appreciate Rep. Reed making this issue a priority as well."
Charles Couture, Cattaraugus County Farm Bureau.
“New York has seen a steady rise in the value of productive farmland. However, this also makes the land more vulnerable to the estate tax. When there is increasing pressure to preserve farmland and up food production, we cannot place the foundation of our farms in jeopardy should a farm family face the loss of the primary owner. I would like to thank Rep. Tom Reed for co-sponsoring this important legislation that can help protect farms for the future."